Solana (SOL) has gone up by 9.2% in the past 24 hours as the crypto market continues to recover from last week’s dramatic sell-off.
Similarly, other assets in the top 10, like Bitcoin (BTC), Ethereum (ETH), and XRP, are experiencing gains of 4.5%, 4.3%, and 2.4%, respectively.
Trading volumes for SOL have been relatively steady in the past day, dropping by 1.6% to $3 billion as sellers seem to be away from their keyboards these past few days.
Now that volatility is subsiding, traders may find more attractive opportunities that offer higher risk-reward ratios.
LINK and HYPE Emerge as Biggest Winners Today
Notably, Chainlink (LINK) and Hyperliquid (HYPE) are among today’s biggest winners, with gains of 12.2% and 13.2%, respectively, as they made positive project-specific announcements.
Jasmy has officially adopted the Cross-Chain Token (CCT) standard to make its $600M+ JASMY token natively transferable across @ethereum & @base via Chainlink CCIP.
In addition, @JanctionMGT, a layer 2 incubated by the @JasmyMGT community, will adopt CCIP as its canonical… pic.twitter.com/dOU5l7rW9e
— Chainlink (@chainlink) March 13, 2025
In the case of Chainlink, the interoperability protocol informed that Jasmy, a Japanese blockchain-powered IoT company, turned to its CCIP cross-chain solution to support trading for JasmyCoin on Ethereum and Base.
Meanwhile, Hyperliquid shared that their lifetime trading volumes hit $1 trillion earlier this week at a point when its trading platform came under scrutiny after a single long position in ETH was liquidated and caused the wallet involved an eye-popping $4 million loss.
SOL Chart Shows Strong Bounce Off $110 Support
Solana (SOL) is the second-worst performing asset of the top 5, with yearly losses of 28.9%, followed by Ethereum (ETH), whose annual retreat now stands at 41.7%.
The token’s performance is heavily tied to how the meme coin sector fares, as a significant percentage of the network’s trading volumes come from this category and from platforms like Pump.fun that facilitate mining this type of cryptocurrency.
The daily chart for Solana (SOL) shows that the token bounced strongly after it came near the $110 level. This indicates how relevant this price level is to market participants and that significant buying interest pops up once the price touches that area.
Momentum indicators have sent buy signals as the Relative Strength Index (RSI) crossed above the signal line while the MACD’s histogram moved to positive territory. These are all positive signs that favor a bullish short-term outlook for SOL.
However, the asset is still on a downtrend unless it can move above the $180 level in the next few weeks. Hence, traders should be cautious not to get their hopes up too soon, as a market bottom will only be confirmed if the price surpasses those levels.
Despite the latest retreat that SOL has experienced, developers still believe in its competitive edge and new solutions like Solaxy ($SOLX) have emerged to strengthen its ecosystem and help Solana-based meme coins and decentralized apps thrive.
Best Crypto to Buy Now: Solaxy Raises $26M to Deploy its Layer-Two Scaling Solution
Solaxy ($SOLX) is quickly becoming one of the best ICOs of 2025 as the project has raised $26.3 million since its presale event kicked off in December.
This layer-two scaling protocol is designed to bundle transactions offline to alleviate the Solana mainnet’s congestion during peak usage times.
The launch of $TRUMP and $MELANIA in January stressed-test the network and evidenced the need for a protocol like Solaxy as Solana struggled to keep up with an unexpected spike in transaction volumes.
$SOLX is the protocol’s utility token. Its demand is fueled primarily by the solution’s adoption. At its discounted presale price, early buyers will reap the highest returns once Solaxy is embraced by wallets and exchanges to offer cheaper and faster Solana transactions.
The developing team recently provided an encouraging update on the project’s progress as they tested asset transfers successfully in the Solana devnet in collaboration with Hyperlane.
In addition, token holders can stake their tokens and receive an annual percentage yield (APY) of 155%.
To buy $SOLX, simply head to the Solaxy website and connect your wallet. You can either swap SOL, USDT, or ETH tokens, or you can use a bank card to make your investment.
